Neuberger Berman Group LLC Has $60.69 Million Stock Position in Textron Inc. $TXT

Neuberger Berman Group LLC lifted its position in Textron Inc. (NYSE:TXT) by 2.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 755,850 shares of the aerospace company’s stock after buying an additional 15,984 shares during the period. Neuberger Berman Group LLC’s holdings in Textron were worth $60,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Textron by 191.9% during the 2nd quarter. Assetmark Inc. now owns 324 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 213 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Textron during the second quarter worth $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Textron during the second quarter worth $41,000. Addison Advisors LLC acquired a new stake in Textron in the 2nd quarter valued at approximately $43,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Textron in the second quarter worth $60,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 0.5%

Textron stock opened at $87.25 on Friday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $88.12. The company has a market cap of $15.37 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.41 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $82.32 and a two-hundred day simple moving average of $81.06.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Textron had a return on equity of 14.16% and a net margin of 5.81%.The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Wall Street Analyst Weigh In

TXT has been the subject of several research reports. Sanford C. Bernstein restated a “market perform” rating and set a $90.00 price objective on shares of Textron in a research report on Monday, October 27th. Weiss Ratings upgraded Textron from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 27th. Citigroup assumed coverage on Textron in a report on Thursday. They set a “neutral” rating and a $91.00 price target on the stock. Finally, TD Cowen decreased their price objective on shares of Textron from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.92.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.